Ikhmas Jaya taking a pause, says AllianceDBS Research

by **Cals** Wed 16 Dec 2015, 01:24

Ikhmas Jaya taking a pause, says AllianceDBS Research

By theedgemarkets.com / theedgemarkets.com | December 15, 2015 : 6:43 AM MYT

KUALA LUMPUR (Dec 15): [size=16]AllianceDBS Research said Ikhmas Jaya Group Bhd ([You must be registered and logged in to see this image.] Valuation: N/A, Fundamental: N/A) was taking a pause and that Ikhmas Jaya had on Dec 14 traded within previous day's range to form an inside day bar before closing at 70 sen (down 1 sen or 1.40%).

In its evening edition yesterday, the research house said Ikhmas Jaya continued to trade above the 20-day and 50-day moving average lines in the last three days.

"The inside day bar indicated a breather in the game play.

"Given the recent price action, the stock is likely to move between 68.5 sen and 72.5 sen in the coming few days.

"A crossover of 72.5 sen should see further price rise to the next overhead resistance zone, 79 sen–82 sen.

"However, a fall below 68.5 sen would put pressure on the stock down to the subsequent support at 67.5 sen," it said.

AllianceDBS Research said stock volume traded on Dec 14 was 1.67 million shares compared to the three-month average volume of 3.14 million shares.

The research house said that, indicators wise, the MACD was above the nine-day moving average line with the "buy" signal remaining intact.

It said the relative strength index indicated that the stock was currently in the neutral zone.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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